FOR IMMEDIATE RELEASE 

The Ghana Capital Market Conference (GhaCMaC) 2023, a landmark event organized by the Securities and Exchange Commission (SEC) as part of its 25th-anniversary celebrations was successfully undertaken in Accra on 30th November 2023. The conference, held under the theme ‘Deepening and diversifying Ghana’s Capital Market Towards A More Resilient Financial System,’ showcased a commitment to shaping the future of Ghana’s financial landscape.

Strategic Plan Launch by Finance Minister

A key highlight of the conference was the launch of the SEC’s 5-year Strategic Plan by the Finance Minister of Ghana, Hon. Ken Ofori-Atta. The plan aims to set a comprehensive roadmap for the SEC, outlining strategic initiatives to deepen and diversify Ghana’s capital market. The Finance Minister emphasized the government’s commitment to creating a resilient financial system that can withstand global economic challenges. “The government is committed to deploying targeted policy initiatives to diversify the investor base, reduce external dependency and broaden market participation within the securities market” he said.

Evolution of the SEC: A Quarter of a Century in Review

In his welcome address, the Board Chairman of the SEC, Dr. Yeboa Amoa, reflected on the evolution of the Commission over the past 25 years. From its transformation into the Securities and Exchange Commission in 2000 to the enactment of the Securities Industry Act in 2016, the SEC’s journey has been marked by a commitment to elevating the quality of standards and regulation in the capital market.

Dr. Amoa noted, “these transitions and evolution of the SEC have progressively elevated the quality of standards and regulation in the capital market, positioning Ghana as a player on the global financial stage.”

SEC’s Director General Outlines Regulatory Initiatives

Rev. Daniel Ogbarmey Tetteh, the Director General of the SEC, in opening the conference, outlined the SEC’s commitment to a robust and resilient capital market. Rev. Ogbarmey Tetteh announced a series of new guidelines focused on crowdfunding, green bonds, financial resources, market making, margin trading, securities lending, borrowing, and asset-backed securities. These guidelines are expected to contribute significantly to strengthening the market’s resilience.

Rev. Ogbarmey Tetteh stated, “These regulatory initiatives showcase the SEC’s dedication to cultivating a dynamic and responsive capital market, capable of thriving in the face of evolving financial landscapes.”

Plenary Sessions: Explore Future Trends

The conference hosted two plenary sessions. The first, titled ‘The Future of Ghana’s Capital Market: Moving From A Frontier Market to an Emerging Market,’ delved into the strategies and innovations needed to position Ghana as a prominent player in the global financial market. The second session, ‘Broadening the Investment Universe: The Role of Alternative Assets,’ explored avenues for diversification and expanding investment opportunities.

Commitment to Financial Education and Professional Development

The Director General of the SEC highlighted the SEC’s commitment to financial education through comprehensive campaigns and educational programs. He also announced the introduction of Continuous Professional Development programs for market operators, aiming to maintain a pool of quality practitioners in the securities market.

The Ghana Capital Market Conference 2023 was not only a celebration of the SEC’s 25 years but a testament to the commitment of all stakeholders in shaping a resilient and dynamic financial future for Ghana. The event was well attended by over 300 industry practitioners from Ghana and beyond. The conference left participants inspired and equipped with insights to contribute to the ongoing evolution of the country’s capital market.

This Press Release is issued pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929) as amended.